New York Online Sportsbooks Win Big As FanDuel Surpasses $2 Billion In Lifetime Handle

Written By Mike Mazzeo on April 22, 2022
Online Sports Betting New York Revenue FanDuel $2 Billion

FanDuel Sportsbook has become the first New York online sportsbook to reach the $2 billion mark in handle.

Overall, FanDuel owns an industry-best 37.5% market share in the Empire State, accounting for $2.1 billion of the $5.6 billion in handle NY online sportsbooks have combined for since the Jan. 8 launch.

That has led to $191.7 million in tax revenue for the state off $375.9 million in gross gaming revenue generated by all betting apps in New York.

Breaking down April 17 weekly NY sports betting revenue

According to the New York State Gaming Commission, for the week ending April 17, NY online sportsbooks combined for $313.2 million in handle. That was down from $335.8 million the previous week, though that week included the April 4 NCAA Tournament title game.

However, despite the dip in handle, New York sports betting apps did combine for $33.2 million in total gross gaming revenue — the highest total GGR since March 7-13 ($36.9 million). It’s also way up from the previous week’s total of $12.9 million.

Once again leading the way, FanDuel Sportsbook NY accounted for $22.1 million in total GGR off $131.8 million in handle, the highest weekly mark for any online sportsbook. Those figures led to a 16.8% hold — marking a brutal week for NY bettors.

DraftKings NY remains No. 2 in NY with $1.4 billion in handle for a 25% market share.

Online SportsbookHandleGross Gaming Revenue
FanDuel Sportsbook NY$131,793,069$22,081,850
DraftKings Sportsbook NY$72,108,528$5,785,438
Caesars Sportsbook NY$49,871,012$3,354,559
BetMGM Sportsbook NY$31,008,404$1,142,063
PointsBet Sportsbook NY$17,768,556$363,905
BetRivers Sportsbook NY$7,544,834$236,575
WynnBet Sportsbook NY$2,023,914$92,772
Resorts WorldBet$1,074,522$160,730
TOTAL$313,192,840$33,217,892

Lawmakers return Monday, but NY sports betting expansion not expected

The New York State legislative session returns on Monday. But online sports betting expansion in the Empire State isn’t going to happen before it ends June 2.

Sen. Joe Addabbo and Assemb. Gary Pretlow have pushed to add NY mobile sportsbooks to the market. Hope surrounded increased the number of operators from nine to potentially 16. As a result, the 51% tax rate would lower to as low as 25%.

Yet after the final state budget omitted this proposal, it has failed to gain traction. Now, according to Pretlow, those talks will have to wait for another time.

“That won’t happen this year,” Pretlow told PlayNY. “I don’t see that happening in a month.”

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Mike Mazzeo

Mike Mazzeo is the Lead Writer for PlayNY, arriving after covering several of New York's professional sports teams in a variety of roles for the past decade. Previously, he served as a beat writer and columnist covering the Brooklyn Nets (ESPN) and New York Yankees (New York Daily News). Mike also covered both the MLB and NBA nationally for Yahoo Sports. In addition, he served as a general assignment reporter for ESPN NewYork.com. He has also had bylines in the New York Times, New York Post, Newsday, Forbes and The Ringer. With PlayNY, Mike brings extensive coverage and unique story angles to what is projected to be one of the biggest and most lucrative online sports betting markets in the country. It's been an arduous and confounding process to get here, but 20 million New Yorkers (many of them die-hards) are now legally able to bet on their favorite sports teams across the state via online and mobile platforms.

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